Indicators for sales success of a personal financial advisor in the bancassurance environment

Abstract

This study investigated the relationships between personality, ability, biographical and sociographical factors on the one hand and criterion measures of job-relevant behaviour on the other. The aim of the study was to isolate success-predicting factors for a Personal Financial Advisor in a South African Bancassurance operation. The research was done by means of a criterion-related concurrent validation study. The sample consisted of 185 advisors with two years or longer sales tenure in the position. Predictor variables included measurement on a 20-dimension competency model, an ability assessment and 17 biographical and sociographical variables related to the position. Criterion variables included production figures and managerial ratings on advisor performance. Meaningful predictors for the success of financial advisors were found for personality, ability, biographical and sociographical variables, and the results confirmed the hypothesised competency model derived from a job analysis.